her building. This represents rental which cover from the period August 1, 20A to Augn 2. How much is the unearned portion of the rental collected in advance as of Aug 1. How much is the earned portion of the rental collected in advance for the yew On July 15, 20A, Hilnora Gregorio colected in advance cash of P48,000 from a tenat 1, 20C (two year contract) ended, Dec. 31, 20A. pre 3. Assuming that "Income Method" or Rent Income was used in recording the collection, what would be the necessary adjusting entry on Dec. 31, 20A? 20C.
her building. This represents rental which cover from the period August 1, 20A to Augn 2. How much is the unearned portion of the rental collected in advance as of Aug 1. How much is the earned portion of the rental collected in advance for the yew On July 15, 20A, Hilnora Gregorio colected in advance cash of P48,000 from a tenat 1, 20C (two year contract) ended, Dec. 31, 20A. pre 3. Assuming that "Income Method" or Rent Income was used in recording the collection, what would be the necessary adjusting entry on Dec. 31, 20A? 20C.
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter3: Basic Accounting Systems: Accrual Basis
Section: Chapter Questions
Problem 5SEQ: The balance in the unearned rent account for Jones Co. as of December 31 is $1 ,20(). If Jones Co....
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